Dubai Stocks Lead Mideast Gains After U.S. Record, Oil Advance - Bloomberg Business

Dubai Stocks Lead Mideast Gains After U.S. Record, Oil Advance - Bloomberg Business:



"Dubai stocks climbed, tracking a record close in U.S equities, after the price of Brent crude rose to the highest since December. Abu Dhabi shares also increased.



Dubai’s DFM General Index added 2.1 percent to close at 4,172.14, the highest since Dec. 1. Gulf Navigation Holding, a shipping company specializing in oil and chemicals, was Dubai’s biggest percentage gainer, advancing the most in more than four months. Abu Dhabi’s ADX General Index increased 0.8 percent, the most since April 2.



The Nasdaq Composite Index jumped to a record on Friday after Google Inc. and Amazon.com Inc. rallied on results. The gauge has almost quadrupled since global equity markets bottomed in March 2009. Brent crude gained last week on concern the crisis in Yemen, which lies on one side of the Bab el-Mandeb strait, the fourth-busiest global oil trading chokepoint according to the Energy Information Administration, may disrupt supply."



'via Blog this'